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Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.

One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.

Business Loans In Canada

Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.

1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general

2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing

3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company

Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!

A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!

When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.

How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.

Three basics always emerge when it comes to your search for the right business capital and financing.

1. The amount of financing you need

2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders

3. How the financing is structured to be manageable with your day to day operations

What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business

Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:

A/R Financing / Factoring / Confidential Receivable Finance

Inventory finance / floor planning / retail inventory

Working Capital term loans

Unsecured cash flow loans

Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.

Royalty finance

Asset based non bank business lines of credit

Tax credit financing (SR&ED bridge loans)

Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.

Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.

If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.

Stan has had a successful career with some of the world’s largest and most successful corporations.

His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.

It’s the busy travel season and since I am in the limo business, I want to share some tips if you are traveling and using a car service or limo company during your trip. There are so many disreputable limo companies that have no business even BEING in business and they give the rest of us a bad name. I have heard dozens of horror stories from my clients over the past few years that I feel it would be a public service to my readers and clients so that they know what to look for! Here are some things to know that will make your limo service a pleasant one and keep your holiday happy!1. BOOK EARLY – I cannot stress how important it is to book your limo service early to avoid disappointment and to make sure that you have a car for your event!! Thanksgiving Day is the single biggest travel day of the entire year!! If you don’t book your reservation at least 10-14 days in advance, you will NOT be getting a car. The same is true of New Year’s Eve which is the single biggest night in the industry–BOOK EARLY and USE A CREDIT CARD!! There are several reliable limo service websites, the two best in the industry are limos.com where you can rate your service and airportservice.com where many airport travelers find car service for airport transportation. You can easily check for limos at both websites and you can find my company, dependablelimos.com listed at both sites! Always use a credit card for your reservation so that the limo service KNOWS you are going to show up and get into the car. If you cancel your reservation within a certain time frame, your card will not be charged, but if you cancel at the last minute and/or don’t show up, expect to pay the full price for the trip. The limo company turned away people to honor your reservation and they expect to be paid for the trip. This is standard practice in the industry, it’s just like a guaranteed hotel room.2. MAKE SURE YOU HAVE A CONTACT NUMBER FOR THE COMPANY. The airports are packed with people in the holiday season and people get lost in airports and traffic is usually very snarled outside major airports and limo companies are very tightly booked. If your plane is going to be late, then make sure you call the limo company and TELL THEM!! Any reputable company will bend over backwards to make sure that you get your ride no matter HOW late your plane comes in–but it helps if you let them know. If you get bumped and put on a different flight. CALL AND TELL THEM!! We are not psychic, and the more you help us, the better we are able to serve you. If your flight is early (it DOES happen) then call the company and tell them when you land–and always check your voice mail for a message from the company when you get off the plane. You might have to wait for your car, but you will get one and a little patience and understanding on both sides helps.3. AIRLINES LIE ABOUT ARRIVAL TIMES No matter how many times I receive bad information from the airline about flight times, it still infuriates me that I get incorrect information on a regular basis about flight arrival times from the airlines! If I ran my business like the airlines run theirs, I’d be in bankruptcy too–like so many airlines are!! Jet Blue is particularly bad about this–they have a flight from California to Ft. Lauderdale that is scheduled to arrive every day at 5 a.m. and it ROUTINELY lands about 4:15 a.m. This is infuriating as in order to meet the plane and get proper sleep, I have to go to bed about 9 p.m. Eastern time–and the plane leaves CA at 9 p.m. Pacific time (midnight EST) and I am asleep since I have to be up no later than 3:30 a.m. to meet this flight. When it arrives early, it breaks my back since it’s almost an hour’s drive to that particular airport.4. TIP YOUR CHAUFFEUR. Most limo drivers work almost entirely for your tips. We are waiters/waitresses with Lincolns. Limo company owners are buried with insurance bills that are ridiculous, as are licensing and permit fees and chauffeurs are working for your tips. The standard is 20% of the fare for good service and if you receive excellent service. which you do with my company and my affiliates, please show your appreciation to the hardworking chauffeur who drove the car safely, cleaned it before and after you got in and out, carried and loaded your luggage on both ends of the trip and took care of any special requests you made along the way.

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